May 15, 2021

Shopify CEO muses integrating e-commerce giant into DeFi ecosystem

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Crypto’s march towards mainstream adoption takes another significant step forward as the CEO of an e-commerce giant is publicly pondering how to integrate his company with the decentralized finance (DeFi) ecosystem.

On Friday night, Shopify CEO Tobi Lutke posted a Twitter message asking the DeFi community what “role” Shopify could play in the growing financial vertical:

Hey #DeFi Twitter. What are the commerce related opportunities that you are most excited about? What role do you want Shopify to play?

— Tobi Lutke (@tobi) April 2, 2021

The inquiry drew hundreds of responses, including from multiple DeFi power players. Nansen’s Alex Svanevik mentioned stablecoin payments as well as using DeFi protocols to allow cash in Shopify accounts to earn yield, and likewise ConsenSys’ Corbin Page pointed to a hackathon project that deposited payments directly into yield-bearing protocols. 

More complex suggestions centered on leveraging deposited funds for payments, real-time subscription fees, and using protocols like Alchemix to enable asset-backed loans for payments.

While highly speculative in nature, Lutke’s musing do seem to be a sign that he’s caught theTitle: Shopify CEO muses integrating e-commerce giant into DeFi ecosystem
Sourced From: cointelegraph.com/news/shopify-ceo-muses-integrating-e-commerce-giant-into-defi-ecosystem
Published Date: Sat, 03 Apr 2021 17:32:51 +0100

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